{
  "ticker": {
    "uuid": "7a15ee32-3ac3-4d7a-9a94-f5ba5a6e08c6",
    "symbol": "GYL",
    "name": "Gyldendal ASA",
    "exchange": "OSL",
    "country": "NO",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "OSEBX.OL",
    "stage": 1,
    "stage_name": "Basing",
    "phase": "1c",
    "phase_label": "Stage 1C \u00b7 Breakout watch",
    "transition": "stage_1_to_2_watch",
    "transition_label": "Stage 1 \u2192 2 watch",
    "confidence": 51.019,
    "architecture_regime": "rotation_up",
    "architecture_regime_label": "Rotation Up",
    "architecture_modifier": "Value reclamation",
    "architecture_gate": "mixed",
    "architecture_direction": 34.419,
    "architecture_energy": 54.692,
    "architecture_maturity": 10.278,
    "architecture_confidence": 71.852,
    "architecture_tenure": "New",
    "architecture": {
      "interpretation": {
        "headline": "The Activity Line structure is rotating upward.",
        "body": "Fast Activity is improving relative to Slow Activity and price acceptance is strengthening. This is earlier than full positive Trend confirmation and remains a developing repair."
      },
      "scores": {
        "balance": 29.62,
        "rotation_up": 67.79,
        "upward_expansion": 49.51,
        "deceleration": 23.27,
        "rotation_down": 22.15,
        "downward_expansion": 31.51
      },
      "activity_lines": [
        448.533333,
        437.173122,
        428.984512,
        430.704739
      ],
      "activity_state": "Moderate",
      "activity_direction": "Expanding",
      "rotation_direction": "Improving",
      "price_acceptance": 0.0
    },
    "latest_close": 460.0,
    "trend_reference": 436.649854,
    "distance_from_trend": 0.053476,
    "trend_direction": "Weakening",
    "fair_value": 448.745242,
    "distance_from_fair_value": 0.025081,
    "fair_value_direction": "Improving",
    "relative_strength": -6.655803,
    "relative_strength_direction": "Improving",
    "price_momentum": 0.03139,
    "excess_performance": -0.093604,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.053476,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": false,
        "value": -0.007988,
        "read": "Falling"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.025081,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.102802,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.066558,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": true,
        "value": 0.095927,
        "read": "Improving"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.03139,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 2.545455,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 0,
      "relative_activity": 0.0,
      "balance": 2.545455,
      "dry_up": 0.800808,
      "accumulation_observations": 2,
      "distribution_observations": 1
    },
    "risk": {
      "range_context": 0.039151,
      "annualized_volatility": 0.306116,
      "from_high_reference": -0.08,
      "from_low_reference": 0.170354
    },
    "levels": {
      "trend_reference": 436.649854,
      "fair_value_reference": 448.745242,
      "structural_low": 393.043457,
      "invalidation": "A renewed decline below the structural range low, widening the discount to current Fair Value while Trend falls, weakens the base diagnosis."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 7,
        "median_return": -0.072727,
        "positive_rate": 0.285714,
        "directional_follow_through": 0.285714,
        "median_excess_return": -0.09262,
        "regime_survival": 0.0,
        "best_return": 0.038462,
        "worst_return": -0.122855,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": -0.006026,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.074715,
        "regime_survival": 0.25,
        "best_return": 0.048035,
        "worst_return": -0.047619,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.013212,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.06418,
        "regime_survival": 0.0,
        "best_return": 0.056339,
        "worst_return": -0.120372,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": 0.010063,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.195723,
        "regime_survival": 0.0,
        "best_return": 0.128362,
        "worst_return": -0.108236,
        "sufficient": false
      }
    ],
    "ledger": [
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-03-14",
        "end": "2025-04-11",
        "tenure": "Developing",
        "return": 0.126316,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-04-18",
        "end": "2025-04-25",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-05-02",
        "end": "2025-05-16",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-05-23",
        "end": "2025-09-26",
        "tenure": "Established",
        "return": 0.078906,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2025-10-03",
        "end": "2025-11-07",
        "tenure": "Developing",
        "return": -0.037383,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2025-11-14",
        "end": "2025-11-21",
        "tenure": "New",
        "return": 0.033981,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2025-11-28",
        "end": "2025-12-19",
        "tenure": "New",
        "return": 0.026201,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
        "start": "2025-12-26",
        "end": "2026-02-20",
        "tenure": "Developing",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
        "start": "2026-02-27",
        "end": "2026-04-03",
        "tenure": "Developing",
        "return": -0.104167,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2026-04-10",
        "end": "2026-05-15",
        "tenure": "Developing",
        "return": -0.085945,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-05-22",
        "end": "2026-06-12",
        "tenure": "New",
        "return": 0.121951,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-06-19",
        "end": "2026-07-10",
        "tenure": "New",
        "return": -0.130435,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2026-07-17",
        "end": "2026-07-17",
        "tenure": "New",
        "return": 0.0,
        "active": false
      },
      {
        "regime": "rotation_up",
        "label": "Rotation Up",
        "color": "teal",
        "start": "2026-07-24",
        "end": "2026-08-07",
        "tenure": "New",
        "return": 0.0,
        "active": true
      }
    ],
    "chart_path": [
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        "date": "2023-08-18",
        "close": 500.83136,
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        "typical_volume": 34.95,
        "trend": 522.628285,
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      },
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      },
      {
        "date": "2026-05-08",
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      },
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        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
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      },
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      },
      {
        "date": "2026-06-05",
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      },
      {
        "date": "2026-06-12",
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        "date": "2026-06-19",
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 451.125912,
        "relative_strength": -10.910152,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
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      },
      {
        "date": "2026-07-03",
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        "fair_value": 450.651311,
        "relative_strength": -16.35001,
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        "modifier": "Emerging rotation",
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      },
      {
        "date": "2026-07-10",
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        "volume": 144,
        "typical_volume": 91.4,
        "trend": 439.91652,
        "fair_value": 450.151175,
        "relative_strength": -15.902506,
        "stage": 4,
        "regime": "rotation_up",
        "modifier": "Emerging rotation",
        "gate": "down",
        "direction": -67.59119,
        "energy": 38.185906,
        "activity_lines": [
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      },
      {
        "date": "2026-07-17",
        "close": 404.0,
        "volume": 7,
        "typical_volume": 75.85,
        "trend": 437.71652,
        "fair_value": 449.625821,
        "relative_strength": -15.75927,
        "stage": 4,
        "regime": "downward_expansion",
        "modifier": "Early contraction",
        "gate": "down",
        "direction": -65.485325,
        "energy": 65.142566,
        "activity_lines": [
          408.4,
          416.608695,
          418.672544,
          426.318689
        ]
      },
      {
        "date": "2026-07-24",
        "close": 460.0,
        "volume": 226,
        "typical_volume": 86.45,
        "trend": 437.383187,
        "fair_value": 449.459442,
        "relative_strength": -6.344977,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Structural repair",
        "gate": "down",
        "direction": -8.976665,
        "energy": 16.36931,
        "activity_lines": [
          422.666667,
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      },
      {
        "date": "2026-07-31",
        "close": 460.0,
        "volume": 5,
        "typical_volume": 74.8,
        "trend": 436.91652,
        "fair_value": 449.102342,
        "relative_strength": -6.678962,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 31.283886,
        "energy": 30.088807,
        "activity_lines": [
          436.933333,
          431.4166,
          425.620205,
          429.215482
        ]
      },
      {
        "date": "2026-08-07",
        "close": 460.0,
        "volume": 0,
        "typical_volume": 74.3,
        "trend": 436.649854,
        "fair_value": 448.745242,
        "relative_strength": -6.655803,
        "stage": 1,
        "regime": "rotation_up",
        "modifier": "Value reclamation",
        "gate": "mixed",
        "direction": 34.419143,
        "energy": 54.692131,
        "activity_lines": [
          448.533333,
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      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}